Aramco accelerates offshore capex with new pipeline tender

Saudi Aramco has launched a new offshore pipeline tender, highlighting a sustained period of aggressive capital deployment across its upstream assets. According to MEED, the NOC has issued its sixth engineering, procurement, construction and installation (EPCI) contract of 2026.

The latest mandate, registered as Contract Release and Purchase Order (CRPO) 176, underlines Aramco’s intent to rapidly scale its offshore infrastructure this year. For global engineering executives, the continued flow of contracts confirms Riyadh’s commitment to maintaining production capacity and upgrading legacy assets despite broader macroeconomic fluctuations.

This development follows a concentrated period of procurement activity. Earlier in the year, MEED noted that Aramco issued five separate offshore tenders – encompassing CRPOs 167 through 171 – targeting critical structural developments across the Abu Safah, Berri, Manifa, Marjan and Zuluf fields. The bid submission window for these specific packages closed in late April following several extensions.

The financial scale of this offshore strategy is substantial. Four recent CRPOs allocated solely for the Zuluf field expansion carry a combined estimated value of nearly $6bn, reinforcing the immense capital requirements of the company's maritime asset base.

International supply chains are actively absorbing the increased order flow. Italian engineering firm Saipem recently secured a $500m contract to install a 65-km, 48-inch trunkline at the Safaniya oilfield. Fabrication will take place at Saipem's Dammam facility, with marine construction executed by vessels currently deployed in the region, MEED reported.

In November, reports suggested that Aramco had extended the bid deadline for the Safaniya onshore oilfield development project. Safaniya, with a production capacity of 1.2mn barrels per day (bpd) and reserves estimated at 37bn barrels, is a cornerstone of Saudi Arabia’s long-term energy strategy. The project in question focuses on enhancing the onshore surface facilities, a critical node in sustaining the asset’s reliability and efficiency.

As these multi-billion-dollar packages are formalised, Aramco is positioned to nearly double its capital expenditure on offshore projects compared to 2024 levels.